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Report Date : |
01.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHAMGOEUL CO., LTD. |
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|
|
|
Registered Office : |
28-17, Sundongsandan 1-gil, Gimje-si, Jeollabuk-do, 2B, Sundong Industrial Complex, Zip Code 576-090 |
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Country : |
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|
|
|
|
Financials (as on) : |
31.12.2013 |
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|
|
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Date of Incorporation : |
11.12.2000 |
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|
|
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Com. Reg. No.: |
128-81-54593 |
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|
|
|
Legal Form : |
Co., Ltd by Shares |
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|
|
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Line of Business : |
·
Manufacturer of Edible Oil (Sesame Oil,
Perilla Oil, Stir-Fried Sesame) & Sauces (Hot Pepper Paste, Paste,
Soybean) as well as Soy Bean Paste Manufacturer of
Vegetable Oils and Fats as well as Crude Oils |
|
|
|
|
No of Employees : |
125 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
South Korea ECONOMIC OVERVIEW
South Korea
over the past four decades has demonstrated incredible growth and global
integration to become a high-tech industrialized economy. In the 1960s, GDP per
capita was comparable with levels in the poorer countries of Africa and Asia.
In 2004, South Korea joined the trillion-dollar club of world economies, and is
currently the world's 12th largest economy. Initially, a system of close government
and business ties, including directed credit and import restrictions, made this
success possible. The government promoted the import of raw materials and
technology at the expense of consumer goods, and encouraged savings and
investment over consumption. The Asian financial crisis of 1997-98 exposed
longstanding weaknesses in South Korea's development model including high
debt/equity ratios and massive short-term foreign borrowing. GDP plunged by
6.9% in 1998, and then recovered by 9% in 1999-2000. South Korea adopted
numerous economic reforms following the crisis, including greater openness to
foreign investment and imports. Growth moderated to about 4% annually between
2003 and 2007. South Korea's export focused economy was hit hard by the 2008
global economic downturn, but quickly rebounded in subsequent years, reaching
6.3% growth in 2010. The US-Korea Free Trade Agreement was ratified by both
governments in 2011 and went into effect in March 2012. Throughout 2012 and
2013 the economy experienced sluggish growth because of market slowdowns in the
United States, China, and the Eurozone. The administration in 2014 is likely to
face the challenge of balancing heavy reliance on exports with developing
domestic-oriented sectors, such as services. The South Korean economy's long
term challenges include a rapidly aging population, inflexible labor market,
dominance of large conglomerates (chaebols), and heavy reliance on exports,
which comprise about half of GDP.
|
Source : CIA |
|
Company
Name |
CHAMGOEUL
CO., LTD. (Korean Company Name : “(주)참고을”) |
|
Registered Address |
28-17, Sundongsandan 1-gil, Gimje-si, Jeollabuk-do, Korea |
|
Building |
2B,
Sundong Industrial Complex |
|
Zip Code |
576-090 |
|
Tel |
+82-63-547-6941~2 |
|
Fax |
+82-63-542-4064 |
|
E-mail |
|
|
Website |
|
|
Trading
Address |
2B, Sundong Industrial Complex, 28-17, Sundongsandan
1-gil, Gimje-si, Jeollabuk-do, Korea (Old Address System : 2B, Sundong Industrial Complex, 960-2, Sun-dong,
Gimje-si, Jeollabuk-do, Korea) |
|
Tel |
+82-63-547-6941~2 |
|
Fax |
+82-63-542-4064 |
|
Other
Address |
959-1, Sun-dong, Gimje-si, Jeollabuk-do, Korea |
|
Tel |
+82-63-542-3972 |
|
Fax |
+82-63-542-4064 |
|
Type |
Export/Import |
|
Main Business |
·
Manufacturer of Edible Oil (Sesame Oil,
Perilla Oil, Stir-Fried Sesame) & Sauces (Hot Pepper Paste, Paste, Soybean)
as well as Soy Bean Paste Manufacturer of
Vegetable Oils and Fats as well as Crude Oils |
|
Established (mm/dd/yyyy) |
12/11/2000 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Dipping
sauces or condiments or spreads or marinades(50171830) |
|
Sell |
Edible
vegetable or plant oils(50151513) |
|
Sell |
Natural
sugars or sweetening products(50161509) |
|
Name |
Kim
Yun-Kwon |
|
Address |
Suite 109-901, 509, Dongseo-ro, Iksan-si, Jeollabuk-do,
Korea |
|
Date of Birth |
12/24/1971 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
2,333,330,000 |
|||||||||||||||||||||||||||||||||
|
Employees |
125 |
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|
Formation |
Co.,
Ltd by Shares |
|||||||||||||||||||||||||||||||||
|
Bank Details |
Woori Bank Industrial Bank of Korea Hana Bank Korea Exchange Bank |
|||||||||||||||||||||||||||||||||
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Corporate Registered No. |
115911-0047631 |
|||||||||||||||||||||||||||||||||
|
Business Registered No. |
128-81-54593 |
|||||||||||||||||||||||||||||||||
|
Permit & Licenses |
09/2011 SO22000 07/2010 HACCP Int’l
Trade No.: 27103500 |
|||||||||||||||||||||||||||||||||
|
Shareholder Position |
|
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Company History |
12/11/2000 Incorporated as the present name 11/25/2002 Moved to the present HQ address from
678, Gajwa-dong, Ilsanseo-gu, Goyang-si, Gyeonggi-do, Korea 05/19/2003 Increased the authorized shares
to 1,000,000 shares from 500,000 shares 06/17/2005 Increased capital to
2,333,330,000 KRW from 2,183,330,000 KRW 06/2006 Designated as a MAIN-BIZ Company 11/2008
Designated as an INNO-BIZ Company |
|||||||||||||||||||||||||||||||||
|
|
|
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President
& CEO |
Mr. |
Kim
Yun-Kwon |
Male |
Korean |
03/31/2012 |
|
Director |
Mr. |
Lee Hyun-Koo |
Male |
Korean |
03/31/2012 |
|
Director |
Mr. |
Han Chang-Hak |
Male |
Korean |
03/31/2012 |
|
Auditor |
M/S. |
Kim Kum-Sook |
Female |
Korean |
09/14/2009 |
|
Year / Unit
: KRW |
Sales |
Assets |
Net Income |
|
2013 |
37,026,135,205 |
34,222,359,291 |
1,153,979,099 |
|
2012 |
30,964,553,669 |
23,492,242,622 |
906,179,732 |
|
2011 |
26,895,590,167 |
22,261,712,874 |
722,136,464 |
|
2010 |
21,659,225,440 |
20,167,172,687 |
552,161,488 |
|
2009 |
18,349,984,913 |
20,297,977,377 |
174,211,402 |
|
Authorized Capital(KRW) |
5,000,000,000 |
|
Paid-Up Capital(KRW) |
2,333,330,000 |
|
Total Issued Shares |
466,666 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
34,222,359,291 |
23,492,242,622 |
22,261,712,874 |
|
Current Assets |
16,658,505,918 |
11,360,669,432 |
10,737,005,847 |
|
-Quick
Assets |
7,558,120,504 |
4,984,644,249 |
4,695,940,835 |
|
-Inventories |
9,100,385,414 |
6,376,025,183 |
6,041,065,012 |
|
Fixed
Assets |
17,563,853,373 |
12,131,573,190 |
11,524,707,027 |
|
-Investment |
988,991,304 |
74,784,712 |
37,371,673 |
|
-Tangibles |
16,435,006,950 |
11,462,396,768 |
10,962,741,293 |
|
-Intangibles |
- |
- |
53,725,434 |
|
-Others |
139,855,119 |
594,391,710 |
470,868,627 |
|
Total Liabilities |
25,128,688,583 |
15,552,551,013 |
15,228,200,997 |
|
Current Liabilities |
20,305,411,902 |
12,225,164,656 |
10,335,908,213 |
|
Fixed Liabilities |
4,823,276,681 |
3,327,386,357 |
4,892,292,784 |
|
Capital Stock |
2,333,330,000 |
2,333,330,000 |
2,333,330,000 |
|
Capital Surplus |
816,660,000 |
816,660,000 |
816,660,000 |
|
Profit Surplus |
5,332,110,734 |
4,178,131,635 |
3,271,951,903 |
|
Capital Adjustment |
611,569,974 |
611,569,974 |
611,569,974 |
|
Total Equity |
9,093,670,708 |
7,939,691,609 |
7,033,511,877 |
|
Liab. & Shareholder’s Equity |
34,222,359,291 |
23,492,242,622 |
22,261,712,874 |
|
Current
Liabilities |
20,305,411,902 |
12,225,164,656 |
10,335,908,213 |
|
Trade Payables |
540,269,769 |
839,354,536 |
768,991,337 |
|
Account Payables |
598,255,806 |
172,548,639 |
123,669,630 |
|
Withholdings |
21,455,220 |
16,471,730 |
5,961,470 |
|
Advance Receipts |
- |
751,670 |
751,670 |
|
Short-Term Borrowings |
16,787,204,549 |
9,589,719,758 |
8,470,701,260 |
|
Accrued Income Tax |
216,786,830 |
445,007,241 |
283,526,161 |
|
Accrued Expenses |
335,369,728 |
46,593,082 |
28,838,685 |
|
Current Portion of Long-Term
Debts |
1,796,070,000 |
1,114,718,000 |
653,468,000 |
|
Guarantee Deposit Withhold |
10,000,000 |
- |
|
|
Fixed
Liabilities |
4,823,276,681 |
3,327,386,357 |
4,892,292,784 |
|
Debentures |
400,000,000 |
910,000,000 |
1,200,000,000 |
|
Long-Term Borrowings |
4,398,797,000 |
2,298,226,000 |
3,457,944,000 |
|
Guarantee Deposit |
- |
50,000,000 |
50,000,000 |
|
Provision for Severance &
Retirement |
621,201,131 |
493,209,622 |
445,059,488 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Sales |
37,026,135,205 |
30,964,553,669 |
26,895,590,167 |
|
Cost of Sold Goods |
31,230,317,060 |
26,168,087,085 |
22,238,815,714 |
|
Gross Profit |
5,795,818,145 |
4,796,466,584 |
4,656,774,453 |
|
Selling & Admin. Expenses |
3,734,883,818 |
2,741,077,338 |
2,691,555,189 |
|
Operating Income |
2,060,934,327 |
2,055,389,246 |
1,965,219,264 |
|
Non-Operating Income |
506,628,234 |
209,163,335 |
152,482,979 |
|
Non-Operating Expenses |
1,270,361,066 |
1,197,916,959 |
1,251,723,249 |
|
Income Before Taxes |
1,297,201,495 |
1,066,635,622 |
865,978,994 |
|
Income Taxes Expenses |
143,222,396 |
160,455,890 |
143,842,530 |
|
Net Income |
1,153,979,099 |
906,179,732 |
722,136,464 |
Cash Flows
|
|||
|
Unit : Korean Won |
As of
12/31/2013 |
As of 12/31/2012 |
As of
12/31/2011 |
|
Cash Flows from Operating |
-2,499,062,447 |
1,378,864,640 |
-130,680,044 |
|
-Net Income |
1,153,979,099 |
906,179,732 |
722,136,464 |
|
-Exp. without Cash Outflow |
1,212,737,569 |
1,093,549,533 |
865,925,395 |
|
-Revenue without Cash Inflows |
-33,731,475 |
-21,381,458 |
-153,670 |
|
-Changes in Asset/ & Liability |
-4,832,047,640 |
-599,483,167 |
-1,718,588,233 |
|
Cash Flows from Investing |
-7,401,593,052 |
-1,322,294,676 |
-1,461,068,170 |
|
-Cash Inflow from Investing |
1,016,229,389 |
657,704,927 |
165,019,490 |
|
-Cash Outflows for Investing |
-8,417,822,441 |
-1,979,999,603 |
-1,626,087,660 |
|
Cash Flows from Financing |
10,594,125,791 |
130,550,498 |
1,614,459,190 |
|
-Cash Inflows from Financing |
21,069,618,196 |
1,119,018,498 |
3,974,459,190 |
|
-Cash Outflows from Financing |
-10,475,492,405 |
-988,468,000 |
-2,360,000,000 |
|
Increase/Decrease in Cash |
693,470,292 |
187,120,462 |
22,710,976 |
|
Cash at the Beginning of Year |
362,020,974 |
174,900,512 |
152,189,536 |
|
Cash at the End of Year |
1,055,491,266 |
362,020,974 |
174,900,512 |
|
Main Products & Services |
Edible
Oil (Sesame Oil, Perilla Oil, Stir-Fried Sesame) & Sauces (Hot Pepper
Paste, Paste, Soybean) as well as Soy
Bean Paste |
|
Customers |
E-LAND E-MART JINMI FOODS CO., LTD.(160111-0014285) SAMYANG
CORPORATION(110111-4720945) |
|
Competitors |
CJ CHEILJEDANG CORP 500, NAMDAEMOON-RO 5-GA JUNG-GU SEOUL,
100-802 SOUTH KOREA TEL:+82-2-7268114 FAX:+82-2-7268112 SAMYANG CORPORATION 263, YUNJI-DONG JONGRO-GU SEOUL, 110-725
SOUTH KOREA TEL:+82-2-7407114 FAX:+82-2-7444005 TS CORPORATION 6-14 BOOKSEONG-DONG 1-GA JUNG-GU INCHEON,
400-201 SOUTH KOREA TEL:+82-32-7701400 FAX:+82-32-7701601 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Subsidiary |
VIETNAM CHAMGOEUL.VINA (100.0%
held by the subject company) |
|
Cooperative Enterprise |
-Insured Company LIG INSURANCE CO., LTD.(110111-0017859) SAMSUNG
FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) |
(Activity & Markets)
The Subject deals
with the companies in China and Japan.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.97 |
|
UK Pound |
1 |
Rs.97.37 |
|
Euro |
1 |
Rs.77.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.